Chegg, Inc. (NYSE:CHGG) Receives $1.00 Consensus PT from Brokerages

Chegg, Inc. (NYSE:CHGG) has earned an average rating of “Strong Sell” from the five ratings firms that are presently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation and two have given a hold recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $1.00.

A number of brokerages recently commented on CHGG. Zacks Research downgraded Chegg from a “strong-buy” rating to a “hold” rating in a report on Monday, January 12th. Weiss Ratings reissued a “sell (e+)” rating on shares of Chegg in a research report on Monday, December 29th. Finally, Needham & Company LLC restated a “hold” rating on shares of Chegg in a report on Tuesday, February 10th.

Institutional Trading of Chegg

Several institutional investors and hedge funds have recently bought and sold shares of CHGG. Charles Schwab Investment Management Inc. grew its holdings in shares of Chegg by 23.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,844,804 shares of the technology company’s stock worth $4,506,000 after acquiring an additional 907,080 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in shares of Chegg by 4.4% during the third quarter. Arrowstreet Capital Limited Partnership now owns 3,923,979 shares of the technology company’s stock valued at $5,925,000 after purchasing an additional 167,062 shares in the last quarter. Renaissance Technologies LLC grew its stake in Chegg by 9.2% in the fourth quarter. Renaissance Technologies LLC now owns 3,335,980 shares of the technology company’s stock worth $3,102,000 after purchasing an additional 279,890 shares during the period. AQR Capital Management LLC grew its stake in Chegg by 95.9% in the first quarter. AQR Capital Management LLC now owns 3,011,879 shares of the technology company’s stock worth $1,925,000 after purchasing an additional 1,474,640 shares during the period. Finally, Jacobs Levy Equity Management Inc. raised its holdings in Chegg by 29.1% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,200,962 shares of the technology company’s stock worth $1,117,000 after purchasing an additional 270,785 shares in the last quarter. 95.18% of the stock is currently owned by hedge funds and other institutional investors.

Chegg Trading Up 7.3%

Chegg stock opened at $0.63 on Tuesday. The firm has a market cap of $68.73 million, a P/E ratio of -0.66 and a beta of 1.98. Chegg has a 1-year low of $0.44 and a 1-year high of $1.90. The firm has a 50-day moving average of $0.81 and a 200-day moving average of $1.10.

Chegg (NYSE:CHGG) last released its quarterly earnings results on Monday, February 9th. The technology company reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.18. Chegg had a negative return on equity of 17.08% and a negative net margin of 27.44%.The business had revenue of $72.66 million during the quarter, compared to analyst estimates of $71.00 million. Research analysts forecast that Chegg will post 0.15 earnings per share for the current fiscal year.

About Chegg

Chegg, Inc (NYSE: CHGG) is a leading education technology company headquartered in Santa Clara, California. Originally founded in 2005, Chegg has evolved from a textbook rental service into a comprehensive digital learning platform. Its suite of subscription-based offerings addresses a wide range of academic needs, catering primarily to high school and college students seeking homework help, study resources, and career guidance.

The company’s core services include Chegg Study, which provides step-by-step solutions and expert Q&A support; Chegg Writing, offering plagiarism checks and guided writing assistance; and Chegg Math Solver, a tool for solving mathematical problems with detailed explanations.